How growing weed will affect the real estate market

To smoke or not to smoke…

I read an article in our REM magazine this morning about cannabis and real estate and the new legislation coming in October.

With new legislation coming in about cannabis, many homeowners, landlords and tenants have questions surrounding what they can and can’t do.  Below are 5 things you need to know!
 1.  How much weed can you grow in your house?
For now, it’s 4 plants in each residence, which included apartments or condos.  Each province can and will weigh in on if they will permit growing it in an outside garden.
2.  Can anybody do it and will there be regulations on how it’s grown?
As of right now, there is no clear regulation in place for growing but you can be sure you will require a professional electrician and an ESA inspection to ensure the wiring is done properly.  Companies will also start coming out with starter kits and mold resistant tents for indoor growing.
3.  If you sell your house do you have to disclose the fact you grew cannabis in your house?
This will undoubtedly be a bone of contention for sellers and realtors in the near future.  If not done properly an “in-house growing system” can cause mold in places not visible to the human eye that could potentially be harmful to people.  While many will have no problem with this, it could be a deterrent for some buyers as the stigma behind illegal grow ops in houses causing serious mold and other issues might cloud their judgment.
4.  Can a landlord prohibit growing and/or smoking weed in your rental unit?
Landlords are already inserting clauses into new leases to prohibit such acts.  The issue will be around people requiring the use of medical marijuana and if their human rights are being violated by these prohibitions in new leases.
5.  What about condos?
The same issues above will apply most likely.  That said some condo corporations are already setting up “smoking” rooms for this purpose.  This issue in this regard will be the standard provision in any condo agreement that you can not do anything to be a nuisance to your neighbors.
We’d love to hear your thoughts on these 5 facts!

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